SAN MATEO, Calif.—April 7, 2010—NetSuite Inc. (NYSE: N), a leading vendor of cloud computing business management software suites, today unveiled SuiteFlow, its new graphical workflow management software that for the first time gives users of cloud computing business suites the ability to easily develop, automate, and streamline complex business processes with ground-breaking simplicity. NetSuite’s SuiteFlow smashes one of the final remaining myths regarding software as a service (SaaS) business applications—that they force companies to alter their normal business processes to accommodate hard-coded workflows that come with the vendor’s software. With SuiteFlow, users will be able to quickly point and click to create and alter custom workflows to support the way businesses need to work in real-time—whether the goal is to implement a more efficient automated collections process, create a rules-based lead nurturing process or overhaul receivables management. For more information about SuiteFlow from NetSuite, please visit www.netsuite.com/suiteflow.
Thousands of businesses and developer partners have capitalized on the flexibility of NetSuite’s customization capabilities for years. With SuiteFlow’s visual point and click environment for creating and customizing complex business processes, they will be able to tailor core NetSuite applications, (enterprise resource planning (ERP), customer relationship management (CRM), Ecommerce), with unprecedented ease to address individual business needs, or third-party applications built natively on NetSuite’s SuiteCloud development platform. With SuiteFlow, users can easily develop and deploy powerful new business processes, including contract renewal workflows with tasks, reminders and customer notifications, sales processes that include mandatory data entry, follow up tasks and rep notifications, and customer support processes, including inactivity reminders, escalations, and service level agreement (SLA) enforcement.
In addition to providing enterprises with greater utilization of resources and shorter time-to-value, SuiteFlow will also help developers and independent software vendors (ISVs) get to market faster with their vertical applications built on the SuiteCloud platform. ISVs already appreciate the point-and-click rapid prototyping available with NetSuite’s form and interface customization tools. With SuiteFlow they will be able to apply this same advantage to business processes for specific applications, greatly reducing development costs.
“NetSuite has always focused on delivering power, insight, and ease-of-use to every business user, not just IT staff,” said Evan Goldberg, Chairman and CTO of NetSuite. “Comprehensive process management was the last frontier in breaking down those walls. SuiteFlow represents the ultimate intersection of people, process, and technology, and a quantum leap in empowerment for business users.”
New Workflows and Processes, No Version Lock
SuiteFlow’s powerful but easy-to-use visual business process customization functionality, combined with NetSuite’s automatic upgrades, sharply contrasts with the traditional on-premise legacy vendor approach where more customization means more version lock and more IT headaches for customers. Any process or workflow defined in SuiteFlow is automatically carried forward with application upgrades, eliminating version lock and time-wasting retrofitting exercises. SuiteFlow delivers a myriad of benefits that will enable businesses to:
- Easily create workflows that automate, streamline and improve complex business processes across finance, marketing, sales and service.
- Respond to change rapidly by quickly adjusting business processes based on the needs of the business or organizational change.
- Deploy workflows that move an organization from manual paper and email-based collections processes to automated cash management.
- Drive return on marketing spend with workflows that improve conversion rates by intelligently and automatically nurturing leads.
- Eliminate maverick activity such as rogue sales discounting by implementing strong auditable approval processes.
- Improve performance with dashboards that provide clear visibility into process performance, bottlenecks, and improvement opportunities.
Challenges of Customizing On-Premise Applications
Businesses today face numerous challenges when trying to customize traditional on-premise applications to meet their specific process needs. Legacy software requires costly technical expertise and ongoing maintenance to design, implement and manage complex custom processes. The business users who know the most about the processes are frequently disconnected from the technical design phase and are powerless to make the real-world improvements necessary to accurately replicate workflow. The result is often dated by the time of rollout because business dynamics have changed and, worse yet, the customizations can result in trapping the enterprise into a particular software version which cannot be upgraded. This old-world approach to business process management (BPM) is both costly and inefficient.
Pricing and Availability
SuiteFlow is currently in beta and will be available through NetSuite’s patented phased release technology in the upcoming months. SuiteFlow is free for all NetSuite users.
Gartner Dataquest recently released figures showing that NetSuite has joined the ranks of North America’s top 10 ERP vendors by revenue. Strategic advisory service ISM Inc. recognized NetSuite and NetSuite CRM with a Top 15 CRM Small & Medium Business Software Award for 2009. Customer Interaction Solutions magazine named NetSuite CRM as a recipient of a 2009 CRM Excellence Award. Most recently, British businesses named NetSuite the top Enterprise Accounting Software vendor in Sift Media’s Software Satisfaction Awards 2009. These awards validate and reinforce NetSuite’s mounting importance to companies of all sizes looking for a powerful, integrated enterprise management solution.
For more information about NetSuite Inc., please visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the general availability of SuiteFlow. These forward-looking statements are based upon the current expectations and beliefs of NetSuite’s management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: potential delays in the general release of SuiteFlow or risks associated with defects or errors in the general release or beta version of SuiteFlow.
Customers who purchase our services should make sure the decisions are based on features that are currently generally available. Please be advised that any services or features from NetSuite that are not yet in general release, including without limitation SuiteFlow, are not generally available and may not be made generally available as currently scheduled or at all.